Cement News tagged: Corporate
Fitch lowers Cemex issuer default rating to junk
Fitch Ratings reduced its issuer default rating on Cemex SAB to junk status Friday, citing softer-than-expected operating results and higher-than-expected leverage levels due to economic volatility.
Portugal’s Cimpor holds 1.154 per cent of own stock
Cimpor holds 1.154 percent of its owns shares after buying 240,000 shares on Friday, the company said in a statement.
HeidelbergCement declines to comment on takeover rumours
HeidelbergCement has declined to comment on rumours that German entrepreneur Adolf Merckle might carry out a complete takeover of the company.
Saudi Cement Co 9-mo net profit down to USD 130.6m
The net profit of Saudi cement producer, Saudi Cement Company (SCC) dropped to SAR 489.6 million (US$130.6m) for the first nine months of 2008 from SAR517m
Pakistan’s DG Khan Cement 1Q loss
DG Khan Cement Ltd., Pakistan’s second-biggest producer of the building material, reported a first-quarter loss because of higher loan costs.
ACC: Low demand, high costs
According to reports from India’s Business Standard newspaper, management at the Rs 7,067-crore ACC believes that the economic environment is turning unfavourable as growth of cement consumption
Cementir Holding SpA Substantial shareholder buys
Cementir Holding SpA substantial shareholder Chupas 2007 Srl bought 16,903 shares worth Euro44,531 on October 16, 2008. The last price was Euro2.63.
Buzzi Unicem SpA director buys shares
Buzzi Unicem SpA director Alvaro Di Stefano bought 4,500 shares worth Euro38,128 on October 17, 2008. The last price was Euro8.47.
Thailand’s TPI Polene (TPIPL): 3Q08 results
TPIPL reported 3Q08 earnings of Bt576mn, up 28.1% YoY and turning from a loss of Bt6.8bn in 2Q08. Its normalised profit was Bt567mn, up 10.2% YoY but down 6.6% QoQ.
Saudi Cement Q3 profit down 9.2 per cent
Saudi Cement Company, Saudi Arabia’s largest cement producer, said third-quarter profit fell 9.2 per cent to miss analysts’ forecasts, due to a decline in export revenues and increase in p
St. Marys Charlevoix plant to lay off 80 as of Dec. 1
St. Marys Cement Plant in Charlevoix announced Thursday that it would be laying off about 80 percent of its hourly workforce by Dec 1.
Export ban bites into Saudi cement firms Q3 profits
Saudi Arabia’s largest cement firm by market value on Wednesday blamed a near-25 per cent in third-quarter profit on an export ban amid signs that
PPC announces two executive appointments
PPC announces the appointment of Kgathola Ngoasheng as Executive: Supply Chain Services to succeed
Cementir Holding SpA director buys shares
Cementir Holding SpA director Riccardo Nicolini bought 2,665 shares worth Euro6,742 on October 17, 2008. The last price was Euro2.53.
Egypt’s South Valley Cement plans rights issue
Egypt’s South Valley Cement said on Tuesday it planned to increase its capital by roughly E£518m ($93m) through a rights issue.
TXI shareholder gains clout in boardroom battle
Texas Industries Inc.’s largest shareholder apparently won support Tuesday in his battle against company management,